Written by Frank Lovece on October 12, 2012
It seemed a simple thing for the co-op board: Cancel shares and foreclose on a shareholder long in arrears. But in a case taking on new attention, now that a 2001 court decision was published for the first time yesterday by the New York State Law Reporting Bureau, this textbook case reminds us that even when just walking to the newsstand, make sure your shoelaces are tied.